Terms of services

Mobile Banking:It's Money, It's Global, It's Easy access

Terms of Service

Welcome to L-Pesa Microfinance Ltd. We offer micro loans for mobile banking customers. This Terms of Service (“Agreement”) is a contract between L-Pesa and you (“you”) and governs your access and use of the L-Pesa website, including all transactions conducted on this website and all additional services provided in connection with this website.

By accessing or using the L-Pesa website, you acknowledge that you have read all the terms of service in and linked to this Agreement, and you agree to be bound by this Agreement, whether or not you utilize the services you can access or use on this website. If you do not agree with the terms of service, please do not utilize any of the services available on this website.

This Agreement may be modified by L-Pesa in its sole discretion over time, and any modifications will automatically become a part of this Agreement, effective once they are posted by L-Pesa on the website. Your access to our services will be subject to any such modifications. You should review the website and this Agreement periodically so you are aware of any modifications. If you do not agree with any of the modifications, immediately terminate your registered L-Pesa account and desist from using our services.

This Agreement is binding and can be enforced against both parties. L-Pesa reserves the right to delegate, assign or otherwise transfer any or all the rights and duties under this Agreement. All rights not expressly granted herein are hereby reserved. The headings within this Agreement are for reference purposes only and do not define, limit, construe or describe the scope or extent of each section.

Getting Access to L-Pesa Services

In order to get access to L-Pesa Services, you must have a registered M-Pesa account which bears your original name as per your identification card (or Passport / Voting Card). If your names do not match exactly, then you will be unable to use our services.

Processing Fees

All our micro-loans are processed with no loan processing fee.

Loan Amounts and Duration

The minimum loan you can borrow is $5. Once you have proven that you can complete the repayments on time, and at the correct amounts, you become legible to access loans of higher value. The duration period for repayment of each loan is 5 weeks.

If for any reason, the principal loan amount is lost or stolen from your mobile device, as long as a confirmation message shows that you have accessed the funds, then you are liable to fully repay the loan as outlined in your repayment plan.

Weekly Repayment

If you take out a loan for $5, the minimum requirement of weekly payment is $1.40. This repayment amount will increase as your loan values increase. Loans are to be repaid directly from the borrower to L-Pesa. As a borrower repays the loan, L-Pesa will keep a record of all repayments and shall provide a summary at the end of the loan period.

Credit Score and Fines

Failure to complete or meet your repayment deadline on time will result in a debt and a reduction of your credit score. If following 5 weeks, you have not been able to fulfill your debt, then you are required to pay $7 + a nominal fine pf $2.

Credit Score records for each loan you take are kept by L-Pesa, and if you have a registered account with L-Pesa, upon your written request, they can be availed to you at any time during the term of a loan.

Applicability Criteria

L-Pesa services are currently available to customers who access postpaid services from their mobile banking providers. We are unable to release credit to prepaid customers.

Proprietary Rights

“L-Pesa”, the “L-Pesa” logo and other L-Pesa graphics, designs, page headers, button icons, logos, scripts, branding and names are trademarks. They may not be used, including, without limitation, as part of trademarks or domain names, in connection with any product or service to cause confusion, and should not be copied, imitated or used, partly or as a whole, without the prior written consent of L-Pesa.

Disclaimers

L-Pesa is not responsible, and will have no liability, for any incorrect or inaccurate content posted on this website. L-Pesa will not be responsible for any loss or damage, including but not limited to personal injury or death, resulting from the use of this website or services from our related partners. Any and all decisions made by you with respect to this website and services available are yours alone.

ANY ATTEMPT TO DELIBERATELY DEFRAUD L-PESA OR OTHERWISE UNDERMINE THE LEGITIMATE OPERATION AND PROCESS OF THE MICRO LOAN SERVICE IS A VIOLATION OF THIS AGREEMENT AND ANY APPLICABLE LAWS.
THIS WEBSITE, INCLUDING, WITHOUT LIMITATION, ANY CONTENT OR INFORMATION CONTAINED WITHIN IT OR ANY SERVICE OR ADVICE PROVIDED IN CONNECTION WITH MICRO-LOANS, IS PROVIDED "AS IS" WITH NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. YOU ASSUME TOTAL RESPONSIBILITY AND RISK FOR YOUR USE OF THE WEBSITE AND ACCESSING THE SERVICES.

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Latest Reviews

Mobile banking has made life so much easier, and with L-Pesa it just keeps getting better. I can safely do so much with my money now using my phone, and with L-Pesa I can enjoy microloan services. I know that the more I use L-Pesa, the more my business can grow.

L-Pesa is an excellent service. I used to be scared of going to the bank to borrow a small amount of money. I thought the bank workers would not take me seriously. Thank goodness for L-Pesa because I can now borrow a little money without feeling any shame or embarrassment.